Kafene Teams Up with Versatile Credit to Expand Convenient Access to Flexible, Lease-To-Own Options

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Dec 05, 2023, 09:00 ET

Kafene joins Versatile's financing partner network, scaling access to Kafene's tiered pricing model that offers competitive lease pricing for Versatile's retailers.

NEW YORK, Dec. 5, 2023 /PRNewswire/ -- Kafene, a point-of-sale leasing platform that helps retailers offer underserved customers more flexible purchase options through lease-to-own ("LTO") agreements, today announced a partnership and integration with Versatile Credit ("Versatile") the leading provider of software connecting merchants, lenders, and consumers to facilitate loans at point-of-sale and beyond.

The partnership is an integration, where Kafene becomes part of Versatile's network of preferred partners that serve Versatile's merchant partners and offer options for customers spanning the credit score continuum. Versatile now provides its merchant partners with access to Kafene's tiered pricing model, giving retailers access to affordable and tailored lease-to-own options for customers interested in purchasing durable good items – allowing for a value-added way of addressing the needs of credit-challenged customers.

"Kafene's partnership with Versatile and its vast, omni-channel technology platform marks a significant step forward in our growth trajectory," said Tony Cerino, Senior Vice President of Partnerships at Kafene. "We'll see more seamless integration with retailers large and small, with engagement and measurement opportunities that will undoubtedly help us take our retail partnerships to the next level. This is an exciting time for Kafene."

"We're proud to have Kafene join us as we continue to grow our financing network and expand upon our commitment to identify and innovate new opportunities for merchants to meet the financing needs of their shoppers throughout the credit spectrum," said Vicki Turjan, COO at Versatile Credit. "Versatile is always looking to assess the needs of merchants and their customers and given the challenging macroeconomic environment, it's perhaps now more important than ever to present choice and optionality with lease-to-own options for the underserved consumers who typically have few — if any — options. Kafene brings tailored solutions through its innovative tier pricing model that we believe is a great benefit to these consumers."

For more information on Kafene please visit www.kafene.com.

About Kafene

Kafene is a leading point-of-sale leasing partner dedicated to empowering flexible ownership solutions for underserved customers nationwide. By enabling our retail partners to offer flexible LTO purchase options for prime and nonprime consumers, Kafene helps merchants grow their customer base, and meet growing demand for furniture, appliances, electronics, tires and other durable goods. Utilizing cutting-edge AI and machine learning technologies, our platform creates a best-in-class experience for both merchants and customers. Kafene has generated more than $150 million in incremental sales for its retailer partners in less than four years since launch. To learn more about Kafene please visit www.kafene.com, and to learn more about Kafene's commitment to customer experience and consumer protection, please visit here: https://kafene.com/consumer-friendly-commitments.

About Versatile Credit

Versatile Credit offers a technology platform that enables retailers to build a financing program with leading lending providers, innovative financing solutions and engaging customer experiences —potentially leading to more finance applications, approvals and sales. For more information about Versatile Credit, visit versatilecredit.com.

Contacts

For Kafene:
Roger Sauerhaft
[email protected]

For Versatile Credit:
Vicki Turjan
[email protected]

SOURCE Kafene